Ghana Chamber of Mines Pushes Back Against 3% Growth and Sustainability Levy
The Ghana Chamber of Mines has formally petitioned Parliament’s Finance Committee to reconsider the proposed increase in the Growth and Sustainability Levy from 1% to 3%, warning that the move could have far-reaching consequences for the country’s mining sector.
The levy hike, outlined in the 2025 Budget Statement, has triggered concerns among industry leaders who argue that the sharp increase could stifle investment, reduce competitiveness, and undermine long-term sustainability.
Industry Advocacy and Government Engagement
As part of its lobbying efforts, the Chamber has engaged Finance Minister Dr. Cassiel Ato Forson and members of the Finance Committee to present its case. The Chamber’s Chief Executive Officer, Sulemana Konney, remains hopeful that continued dialogue will lead to a balanced outcome that supports both fiscal policy objectives and the mining industry’s growth.
“We see continued engagement with the Ministry of Finance, the Minerals Commission, and our sector ministry as crucial,” Mr Konney stated. “Backed by data, we aim to ensure that the legislation does not have unintended consequences on the mining industry. Our discussions so far have been positive, and we believe that by carefully examining the numbers, we can reach an equitable solution that satisfies all stakeholders.”
Striking a Balance Between Revenue and Growth
Ghana’s fiscal position remains a key concern for policymakers, with the government looking for ways to boost revenue amid mounting economic pressures. However, the mining sector, a cornerstone of the country’s economy, argues that excessive tax burdens could deter investment at a time when global competition for capital is intensifying.
“At the end of the day, balance is key. While we recognize the country’s fiscal difficulties, the proposed levy increase should not compromise the industry’s long-term viability,” Mr Konney said.
Mid-Year Budget Review as a Turning Point
The Chamber is optimistic that its concerns will be reflected in the Mid-Year Budget Review, which presents an opportunity for the government to recalibrate its fiscal policies based on budget implementation insights.
“The mid-year budget review provides an opportunity to recalibrate fiscal policies. We expect that our discussions with the Ministry of Finance, Minerals Commission, and our sector ministry will be reflected in the review,” Mr Konney added.
